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June 21, 2007
Investors take another hit at Supreme Court
The Supreme Court today made it harder for investors to bring lawsuits, by raising pleading requirements in a ruling strengthening the draconian 1995 Private Securities Litigation Reform Act, a bad law unfortunately passed over a presidential veto. Decision in Tellabs, Inc. v. Makor Issues & Rights, Ltd. Here are stories in the New York Times and Newsday (from the Chicago Tribune). As Steve Labaton of the New York Times reports: The Supreme Court dealt a new blow today to investors suing companies over accusations of fraud when it set a higher standard to prevent the lawsuits from being dismissed.
Posted by Ed Mierzwinski at June 21, 2007 08:23 PM
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